Bayesian Capital Management LP Takes $338,000 Position in Pure Storage, Inc. (PSTG)
Bayesian Capital Management LP purchased a new position in Pure Storage, Inc. (NYSE:PSTG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 26,400 shares of the technology company’s stock, valued at approximately $338,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Voya Investment Management LLC grew its holdings in Pure Storage by 64.7% in the 2nd quarter. Voya Investment Management LLC now owns 43,164 shares of the technology company’s stock valued at $553,000 after buying an additional 16,955 shares during the period. Virtu KCG Holdings LLC acquired a new stake in shares of Pure Storage in the second quarter worth approximately $331,000. Renaissance Technologies LLC boosted its position in shares of Pure Storage by 91.7% in the second quarter. Renaissance Technologies LLC now owns 2,461,000 shares of the technology company’s stock worth $31,525,000 after acquiring an additional 1,177,000 shares during the last quarter. Parametric Portfolio Associates LLC acquired a new stake in shares of Pure Storage in the second quarter worth approximately $237,000. Finally, AO Asset Management LLC acquired a new stake in shares of Pure Storage in the second quarter worth approximately $12,170,000. Institutional investors own 35.30% of the company’s stock.
A number of research analysts recently weighed in on the company. BidaskClub upgraded Pure Storage from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. William Blair restated an “ourperform” rating on shares of Pure Storage in a research note on Friday, August 25th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $13.50 price objective on shares of Pure Storage in a research note on Friday, August 25th. BMO Capital Markets reiterated a “buy” rating on shares of Pure Storage in a report on Wednesday, June 14th. Finally, Robert W. Baird set a $14.00 target price on Pure Storage and gave the stock a “hold” rating in a report on Monday, August 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Pure Storage currently has a consensus rating of “Buy” and an average price target of $15.65.
Pure Storage, Inc. (NYSE:PSTG) opened at 15.99 on Monday. The firm’s market cap is $3.38 billion. Pure Storage, Inc. has a 52-week low of $9.12 and a 52-week high of $16.35. The company’s 50-day moving average price is $13.63 and its 200-day moving average price is $12.13.
Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Thursday, August 24th. The technology company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.20. The firm had revenue of $224.50 million during the quarter, compared to analysts’ expectations of $217.97 million. Pure Storage had a negative net margin of 29.55% and a negative return on equity of 46.12%. The company’s revenue for the quarter was up 37.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.16) earnings per share. Analysts predict that Pure Storage, Inc. will post ($0.22) EPS for the current year.
In related news, President David Hatfield sold 40,000 shares of the stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $16.00, for a total transaction of $640,000.00. Following the completion of the sale, the president now owns 225,190 shares in the company, valued at approximately $3,603,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy Riitters sold 10,248 shares of the stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $12.81, for a total transaction of $131,276.88. Following the sale, the chief financial officer now owns 227,200 shares of the company’s stock, valued at approximately $2,910,432. The disclosure for this sale can be found here. Over the last three months, insiders sold 145,761 shares of company stock valued at $2,169,634. 41.47% of the stock is currently owned by insiders.
About Pure Storage
Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.
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